The accounting records of Dolphin Company revealed the following information:

Total manufacturing costs	$ 700,000
Work-in-process inventory, Jan. 1	73,000
Work-in-process inventory, Dec. 31	95,000
Finished-goods inventory, Jan. 1	163,000
Finished-goods inventory, Dec. 31	140,000

Dolphin's cost of goods sold is:

A. $678,000.

B. $699,000.

C. $701,000.

D. $723,000.

E. None of these.